01. Abatement hearing for Starr Thies

Thies Residence 2609 11 ST S Parcel Number: 01-2860-00750-000 Owner: Starr Lynn Thies Information provided above is a summary of the analysis conducted. Full analysis is provided in the Assessment Department’s work file. Appeal of Assessment for Year: 2023 Name of Applicant: Starr Thies 2023 True & Full Value 319,900 $208 / sf Applicants Requested Value(s) 270,400 $176 / sf - 15.5% Sale Price (11/2021) 284,200 $185 / sf General Property Information Property Type Single Family Dwelling Year Built 1963 Building Story Height Two Story Total Living Area (Above Grade) 1,536 sf 4 Beds / 2.5 Baths Staff Recommendation 289,800 $189 / sf - 9.4% Summary Appellant appealed the 2023 true and full value on September 28, 2023. The property characteristics were previously estimated based on publicly available information. The value was re-appraised for the 2022 tax year. The value was increased for 2023 due to market conditions. The subject was estimated to be in good overall condition. Publically available information indicated updated flooring and bathrooms. The subject appeared to be well maintained. Upon inspection, assessment staff discovered issues with the foundation walls (heaving), leaking and / or non-functional windows, and settling issues with the front porch. Staff reduced the condition of the home to “average” considering the blend of updates and deficiencies noted during the inspection. City staff adjusted the value with the 2022 value model, adjusted forward for market conditions. This method keeps the subject value equitable with the neighborhood, while accounting for conditions found during the field visit. All homes in the Lincoln Map Zone were re-appraised for the 2022 tax year. Values were adjusted +15% for 2023 due to market conditions. The following homes are deemed most comparable to the subject. The 2023 value was over-assessed and un-equalized with its neighbors of similar character. The differences in assessed values below are largely tied to the land value of each parcel. Comparable Sales Summary Address Map Zone Year Built Size Style Beds Baths Garage Stalls Sale Date Sale Price (with SPUN) Price $/SF 507 22 Ave S Lincoln 1966 1,536 2 Story 4 2.5 2 Stall / Att 06/2022 318,400 207 914 21 Ave S Lincoln 1965 2,024 2 Story 4 2.5 2 Stall / Att 03/2021 348,200 172 113 26 Ave N Northport 1962 1,552 2 Story 4 1.5 2 Stall / Att 05/2022 293,000 189 1333 10 St S Clara Barton 1951 1,805 1.5 Story 3 3 2 Stall / Det 10/2022 367,800 204 1808 Park Blvd S South High 1977 1,590 1.5 Story 2 2 2 Stall / Att 11/2021 311,100 196 Subject 1963 1,536 2 Story 4 2.5 Proposed 289,800 189 Competing Properties (Assessed Values) Summary Address Map Zone Year Built Size Style Beds Baths Garage Stalls Tax Year Sale Price (with SPUN) Price $/SF 2601 11 ST S Lincoln 1967 1,532 2 Story 4 2.5 2 Stall / Att 2023 294,400 192 507 22 AVE S Lincoln 1966 1,536 2 Story 4 2.5 2 Stall / Att 2023 275,900 180 615 24 AVE S Lincoln 1963 1,620 2 Story 4 2.5 2 Stall / Att 2023 289,600 179 514 22 AVE S Lincoln 1966 1,632 2 Story 4 2.5 2 Stall / Att 2023 288,400 177 Subject Before 1963 1,536 2 Story 4 2.5 2023 319,900 208 Subject After Proposed 289,800 189 Staff Recommendation: Reduce the true and full value for the 2023 tax year to $289,800